1956-D Penny, I was wondering if it was worth getting graded. Thanks 1 1

[KoyMihn]

Edited December 2, 2023 by KoyMihn

[Moxie15]

Short answer - no

Very nice cent I would put it in a better looking 2x2 but it is worth just a couple dollars. 

[KoyMihn]

I just found it and a bunch of other wheat cent cleaning out a basement. Thanks

[Sandon]

     The coin should only "get graded" by you, not by a third-party grading service! Unless you have the grading skills to determine that the coin has sufficient value to justify the substantial cost of grading service submission, you shouldn't even be thinking about submitting coins to grading services. 

     Many 5,000-coin BU bags and rolls of late date wheat cents such as the 1956-D were saved by dealers and collectors, and they remain abundantly common today.  These coins most commonly grade no higher than MS 64-65 RD, with retail list values for pieces so certified respectively of $10-$16.  Even certified MS 66 RD pieces, which are scarce, only list $45. Uncertified nice red BU pieces like yours are still available for a dollar or less, and certified pieces are usually available for below the list price. Assuming that you already have a paid NGC membership, which starts at $95 per year, it would cost you an "Economy" tier grading fee of $23 to have NGC grade and encapsulate this coin, to which would be added a $10 per order processing fee, a minimum $28 per order return shipping fee, and your own cost of shipping the coin to NGC. See NGC Services and Fees | NGC (ngccoin.com). The coin would only have sufficient value to justify third-party grading if it were to grade at least MS 67 RD. Such pieces are few and far between. 

   

[Coinbuf]

@KoyMihn you have found an exceptionally nice coin.   The strike is nice and full as evidenced by the completely formed and raised (from the field) "O" of One on the rev.   The luster is outstanding as evidenced by the outline that softly follows the obv bust, this is an indication of gem level luster on a Lincoln cent.   That is the good news.

The bad news is that the Denver mint production in the mid fifties was superb, unlike the Philly mint which has struggled with quality cent production since the mid to late forties.   As such there is an ample supply of gem quality coins of this date which has resulted in a large population of MS67 or better 56-D coins as shown in the NGC population with 199 in MS67 or better and 110 graded by PCGS in MS67 or better.   As noted by @Sandon this was a date that was heavily saved and even today there are many BU rolls of this and other similar dates due to the roll collecting craze.   There is also what appears to be a possible stain or spot on the obv just under Liberty which could limit the grade.

Unlike @Sandon this is a coin that if I had a group of coins to submit (I never advocate for submitting a single coin) and I was as enamored after an in hand review (very important distinction) I would very likely send this coin in to be graded as I feel it has a shot at MS67 from the photos.

[powermad5000]

It is nice to see you post a very nice Lincoln Wheat cent @KoyMihn!!! Continue to strive for more coins like this one!

I have to agree with the others, while this coin is in very nice condition and still seems to retain its original surfaces and color, it is just simply that too many were made (mintage number of 1,098,201,100). With over a billion minted and also towards the end of the series where people were starting to almost literally hoard prime examples, it just would not be worth a premium to submit it. I would, however, at a minimum change the cardboard flip it is in to a new one. Being it is nice enough, if the owner really wants to pay the money to have it slabbed, it is nice enough to do that, but remember the plastic case will cost well more than the coin in it is worth.

To give you a little perspective, I was given a full roll of choice uncirculated 1957 D Lincoln Wheat cents by my grandmother. They pretty much look like the cent you have posted here. About 35 years later, I opened the roll and sent the best two in. They both returned graded MS 65 RD. Gorgeous, but not exactly perfect. I still can't seem to part with the rest of the roll (sentimental reasons).

I hope to see more very nice coins like this one in your future posts!

[dprince1138]

Pretty penny.

Excluding initial membership fee, grading a coin can run $45-$60, depending on options.  For myself, I am about to submit coins for the first time, but I feel it is necessary to prove the value of the coin, which I am hoping to to sell for $250 or more.

Although, some may do for collection purposes.

Amazon sells very nice coin containers. 

 

Edited December 9, 2023 by dprince1138